Phnom Penh (FN), Nov. 13 – Cambodian Prime Minister Hun Manet instructed the Banking and Microfinance Institutions to temporarily restructure their loans to tourism operators in Siem Reap and clients in the real estate sector who are facing financial hardships amid the repercussions of COVID19 and the global economic crisis.

The premier spoke at the 19th Government-Private Sector Forum (G-PSF), held on Monday (Nov. 13) at the Peace Palace.

"I encouraged banking and microfinance institutions to restructure loans following the guidelines set by the National Bank of Cambodia, emphasizing a thorough examination and analysis of customers' situations and the broader impact of consumer credit on the system. Additionally, they can initiate discussions with the National Bank to explore more practical and preferential measures for consideration,” the premier underlined.

Acknowledging the challenges faced by tour operators in Siem Reap in securing funds for rehabilitation and business enhancements, the Royal Government of Cambodia has resolved to institute a direct loan program with an initial fund allocation of US$50 million. The program offers competitive interest rates and other favorable terms, ensuring that tour operators can readily access financing for their businesses while maintaining a reasonable financial burden.
=FRESH NEWS